The National Bank of Ukraine (NBU) has improved its economic growth forecast for 2023, from 0.3% to 2.0%, in view of the rapid recovery of the energy system and loose fiscal policy, the NBU’s press service reported on April 27. “Already this year, the economy will return to growth, which will accelerate in the coming years on the … Read more
The Ukrainian economy is now expected to grow by 0.5% in 2023, and by 3.5% in 2024, according to a revised economic outlook forecast published by the World Bank on April 6. Back in January, the World Bank predicted Ukraine’s GDP growth by 3.3% in 2023, and by 4.1% in 2024. Furthermore, the organization notes … Read more
Ukrainian airspace, which was closed on Feb. 24, 2022, will not return to “normal” routing until at least 2029, the European Organisation for the Safety of Air Navigation, or Eurocontrol, said in its forecast update for 2023-2029 as of March 31. Restrictions on the airspaces of Russia, Belarus and Moldova remain in place for 2023-2029, as well. … Read more
The European Bank for Reconstruction and Development (EBRD) forecasts a rise in Ukraine’s GDP only by 1% in 2023, down from the 8% forecast last September, the agency reported on Feb. 16. According to the EBRD, the region of eastern Europe and the Caucasus is facing enormous uncertainty in the short term because of the ongoing war … Read more
Throughout 2023, inflation rate in Ukraine will slow down to 18.7%, while real GDP will grow only marginally – by 0.3%, primarily due to expected reduction of national security risks, the National Bank of Ukraine (NBU) said in its January report. The NBU predicts that inflation will slow down in 2023 due to tight monetary … Read more
The National Bank of Ukraine (NBU) has improved its inflation forecast for 2023 to 18.7%, down from from 20.8%, the press office of the central bank said on Jan. 26in a report on the financial situation in Ukraine. Tight monetary conditions, global inflation declines and weaker consumer demand amid regular power outages will contribute to the … Read more
Fixing the hryvnia exchange rate has been and remains the main factor in keeping inflation under control, but this was achieved through a set of steps, including raising the key policy rate to 25%, Director of the NBU’s Monetary Policy and Economic Analysis Department Volodymyr Lepushinsky has said. “Controlled inflation, which at the end of … Read more
According to preliminary estimates by the Ukrainian Club of Agrarian Business, the gross sunflower harvest in the 2022/2023 marketing year will decrease by 30% compared to the average annual figure for the past three years. This was reported by the UCAB press service. It is noted that the reason for the fall in the gross collection is … Read more
The wheat harvest in 2022 will be 18-19 million tonnes, which will exceed the forecast indicators when it is sown, in general, a cautiously optimistic forecast can be made for the yield of all crops, said Minister of Agrarian Policy and Food of Ukraine Mykola Solsky. “The new harvest is sufficient, although it is much … Read more
The National Bank of Ukraine (NBU) estimates an inflation rate in Ukraine in May at 17%, NBU Governor Kyrylo Shevchenko has said. As he pointed out in a column on zn.ua on Monday, the current and forecast growth rate of consumer prices should serve as a benchmark for the Ministry of Finance regarding the yield … Read more